7217 Cowart St · Houston, TX 77020

$130,000

2 bd · 1.0 ba · 800 sqft · SingleFamily public records · 33 Days on market

Built 1940 4,791 sqft lot Est $146k · 11% under

---

Why this score? — see what drove the C+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +17.6/30.0
• ARV discount +12.5/15.0
• Appreciation +10.0/10.0
• DSCR +5.5/10.0
• 1% rule +5.2/10.0
• Livability +3.7/5.0
• Rent growth +3.6/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0

Listing remarks

Great opportunity in the heart of Houston! 7127 Cowart St offers excellent potential for investors, flippers, or buyers looking to create value with a renovation project. Located in an established neighborhood with convenient access to major highways, shopping, dining, schools, and downtown Houston, this property sits in a rapidly developing area with strong investment upside. Whether you're looking for your next fix-and-flip, rental property, or affordable home project, this property is full of possibilities. Bring your vision and make this Houston property your next successful investment!

Key facts

• Convenient access
• Major highways
• 4,791 sq ft lot

Tags

• ESTABLISHED NEIGHBORHOOD
• CONVENIENT ACCESS
• MAJOR HIGHWAYS
• STRONG INVESTMENT UPSIDE
• RAPIDLY DEVELOPING AREA

Property features AI

Exterior

• Parking: Carport with 2 spaces
• Utilities: Public water; Public sewer
• Home design: Single-story home; Resale property; Vinyl siding exterior
• Construction: Built (year per public records); Composition/Shingle roof; Vinyl siding construction
• Exterior features: Back yard fencing; No additional exterior features listed

Interior

• Kitchen: Appliances: see remarks
• Bedrooms: 2nd bedroom on main level
• Flooring: Carpet; Ceramic tile; Wood
• Bathrooms: Bathroom on main level
• Heating & cooling: Heating: see remarks
• Interior features: All bedrooms on main level; Other interior features (see remarks)
• Laundry & utility: Laundry features: see remarks

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $101 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• Recommended offer: $126k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.2% vs local median 3.2% in Houston — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 74/100 on livability (#184 in TX, #4,771 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: schools D, crime F.
• Houston ISD (urban): math 27% / reading 35% proficiency, ranked #593 of 826 in TX (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+4.3%/yr); 339 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% of comp listings sitting > 30 days — soft ceiling on asking rent; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• This rent runs 32% of the median local income ($50k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $14k of equity ($899 loan paydown + $13k appreciation (10.0% local appreciation)).
• Harris County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 4.3% rent growth), your $36k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $126,100 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.02% ✓
• Cap rate: 7.23%
• Cash-on-cash: 3.33%
• DSCR: 1.15
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $146,400
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7220 Karnes st St	0.07mi	3/2.0 (+1)	748 (-6%)	14mo	$165,000	$221	65
7919 Burman St	0.62mi	2/1.0	816 (+2%)	13mo	$105,000	$129	56
7024 Gonzales St	0.36mi	2/1.0	876 (+10%)	14mo	$75,000	$86	56
7423 San Angelo St	0.43mi	2/1.0	900 (+12%)	14mo	$165,000	$183	48
1118 Woolworth St	0.75mi	2/1.0	902 (+13%)	17mo	$175,500	$195	30

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 4.27% rent growth · sell at horizon

5-year hold

• IRR: 27.2%
• Equity multiple: 3.17×
• Total profit: $78,999
• Equity at exit: $117,114

10-year hold

• IRR: 24.1%
• Equity multiple: 7.35×
• Total profit: $231,316
• Equity at exit: $252,561

Cash invested: $36,400 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Texas: 87 Strongly Landlord-Friendly · R+5
• County: — inherits STATE
• City: — inherits STATE

3-day notice; statewide preemption; one of the fastest eviction climates; Travis County (Austin) slightly slower.

Methodology + full state rankings →

ZIP-level market 77020

• Home prices YoY: 29.1%
• Rents YoY: 4.3%
• Active inventory: 339
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,320 high
• Mortgage (P&I): −$682
• Tax from tax record: −$206 /mo · $2,470/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$277
• Net cashflow: $101

Break-even live

Break-even rent $1,192

Max offer price $130,000

Occupancy floor 87%

Sensitivity live

Price	-10% $175	-5% $138	+0% $101	+5% $64	+10% $28
Rent	-10% $-3	-5% $49	+0% $101	+5% $153	+10% $205
Rate	-1.0pp $167	-0.5pp $134	base $101	+0.5pp $67	+1.0pp $33

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
621 Majestic St Unit Back Houston, TX	2.0	1.0	600	$750	$1.25	45d	1	0.90mi
6720 1/2 Avenue U Unit 1 Houston, TX	1.0	1.0	600	$700	$1.17	9d	1	1.04mi
7212 Corpus Christi St Houston, TX	1.0	1.0	700	$950	$1.36	45d	1	1.17mi
6602 Avenue R Unit D Houston, TX	2.0	1.0	830	$1,235	$1.49	9d	1	1.19mi
6715 Victoria St Unit B Houston, TX	2.0	2.0	790	$1,150	$1.46	45d	1	1.29mi
5408 Market St Unit 5408-1 Houston, TX	2.0	1.0	730	$900	$1.23	6d	1	1.31mi
8534 Fillmore St Houston, TX	3.0	1.0	965	$1,600	$1.66	45d	1	1.50mi

Listing history 15 events

1. 2026-06-21
   days on market $130,000 Active 33 DOM
2. 2026-06-18
   days on market $130,000 Active 30 DOM
3. 2026-06-17
   days on market $130,000 Active 29 DOM
4. 2026-06-16
   days on market $130,000 Active 28 DOM
5. 2026-06-15
   days on market $130,000 Active 27 DOM
6. 2026-06-13
   days on market $130,000 Active 25 DOM
7. 2026-06-10
   days on market $130,000 Active 21 DOM
8. 2026-06-08
   days on market $130,000 Active 20 DOM
9. 2026-06-07
   days on market $130,000 Active 19 DOM
10. 2026-06-04
    days on market $130,000 Active 16 DOM
11. 2026-06-01
    days on market $130,000 Active 13 DOM
12. 2026-05-31
    days on market $130,000 Active 12 DOM
13. 2026-05-19
    listed $130,000 Active
14. 2006-10-31
    soldstatus
15. 1999-01-22
    soldstatus

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast TX · Resets to sale price

• Current annual tax: $2,470 · $206/mo
• Projected year-2 tax: $2,470 · $206/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°F today · 24 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,842
• − Mortgage interest: −$7,282
• − Property taxes: −$2,470
• − Insurance: −$650
• − Repairs & maintenance: −$1,267
• − Management: −$1,267
• − Depreciation: −$3,782
• Taxable loss: −$877
• Est. tax savings @ 24.0%: +$210
• After-tax cash flow: $1,424/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Houston ISD
• NCES district ID: 4823640
• Math proficiency: 27% ▼ -18.00%
• Reading proficiency: 35% ▼ -6.00%
• Median HH income: $46,054
• Composite: 26.63/100
• National rank: #7173
• State rank: #593 of 826 in TX

Livability — Houston

• Score: 74/100
• State rank: #184
• US rank: #4771

Category grades

Amenities A+ Commute A Cost of living A+ Crime F Employment C Housing A+ Health & safety A- User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Houston, TX
• County: Harris County · 4,702,590 people
• City population: 3,226,434
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 23,686
• Household income: $50,119
• Rent vs Own: 46.2% rent · 53.8% own
• Severe rent burden: 969.0

Population outlook (Harris County) Hauer SSP2

• Today (2025): 5,571,493 people
• By 2030: 6,089,821 · +9.3%
• By 2040: 7,142,806 · +28.2%
• By 2050: 8,185,864 · +46.9%
• By 2075: 10,574,329 · +89.8%
• By 2100: 12,109,958 · +117.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (69%)
• Race & ethnicity: Hispanic / Latino 69% Black 24% Two or more races 22% White 5% Asian 1%
• Hispanic origin (detail): Mexican 60%
• Common ancestry: Swiss 1%
• Foreign-born: 23% · Canada
• Languages at home: 39% English-only · Spanish 59% Other Indo-European 1%

Political lean MEDSL · Harris

• 2024 margin: Lean D (+5.5) · D 52.0% · R 46.4% · Other 1.6%
• 2008→2024 swing: +3.9pp toward D · 2008: 1.6pp · 2024: 5.5pp
• All cycles: 2024: D+5.5 2020: D+13.3 2016: D+12.4 2012: D+0.1 2008: D+1.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 55.64%
• Current HPI: 246.5578
• Rent YoY: ▲ 4.27%
• Metro: Houston-The Woodlands-Sugar Land, TX
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

Industry mix (Fortune 500 HQ in TX)

Industry	F500 HQs	Revenue
▸Energy	16	$1,198B
▸Technology	5	$198B
▸Engineering / Construction	4	$72B
▸Energy Services	3	$60B
▸Utilities	3	$41B
▸Healthcare	2	$330B

Price history

3 events — show timeline

• 2026-05-19 Listed $130,000 CTXMLS
• 2006-10-31 Sold (Public Records) — Public Records
• 1999-01-22 Sold (Public Records) — Public Records

Property tax history

+12.0%/yr

Latest (2025): $2,470 · +12.4% YoY. Source: county tax records.